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FxWirePro: EUR/CHF Trade Idea

Monday, May 21, 2018 8:07 AM UTC

FxWirePro Currency Strength Index for EUR/CHF:Bias Bearish
FxWirePro's Hourly EUR Spot Index was at -117.756 (Bearish)
FxWirePro's Hourly CHF Spot Index was at 124.592 (Bullish)

Technical Analysis: Bias Bearish
- The pair has broken below 110-EMA at 1.1741
- Momentum studies bearish, Stochs in oversold territory
- MACD supports bias lower
- -ve DMI dominance, ADX at 44 and rising
- price action has dipped into daily cloud

Support levels - 1.17, 1.1678 (23.6% Fib), 1.1643 (200-DMA)

Resistance levels - 1.1741 (110-EMA), 1.1788 (5-DMA), 1.18

Recommendation: Good to stay short on rallies around 1.1720/30, SL: 1.1790, TP: 1.1680/ 1.1645/ 1.16

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FxWirePro: EUR/CHF Trade Idea

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